As part of estate planning, you created an advance medical directive so your loved ones know your desires regarding health care if you cannot make or voice your desires. Do you expect to change this legal document? Mayo Clinic describes circumstances that may...
Creating an estate plan is one of the most important things you will ever do, as well as one of the most personal. Your estate plan should reflect your values, wishes and needs. Therefore, there is no one estate plan that is ideal for everyone. Each should be unique...
Many parents who do not have wealth or assets to spare purchase life insurance policies to prepare for the worst-case scenario where they do not live to raise their children. This proactive step along with a will is a good start, but it does have its downsides due to...
You can never fully prepare for how the people in your life will react to your death. The hope is that everyone will respect your planning and distribute your estate according to your wishes. Even after careful estate planning, it is possible that a will contest may...
Between the death of the decedent and the closing of the estate, its assets and debts are under the management of the personal representative. This could be an individual, a professional or even a financial institution. If beneficiaries feel that the personal...
When creating your estate plan, you will likely have several notable figures within it. It is important to understand who these are and what role they play in your overall estate plan. For example, some figures will have an active role. Others play a passive role. But...
Crafting your estate plan can take years at a time. Reviewing it is not always an easy task, either. This puts some people off, despite the importance of somewhat regular reviews. Fortunately, there are ways you can organize your estate plan review to make it easier...
An advance directive provides reassurance that you will receive the kind of health care treatment you want even if you become incapacitated. Having a plan in place can also provide your loved ones with direction to know how to respond to your medical needs during a...
When someone designates you as the executor of his or her will, you become the personal representative, i.e., estate administrator, of his or her probate estate when he or she dies. As such, you will need to perform various duties in order to open, manage and...
A will is an important document that outlines how you want to distribute property upon your death. For most people, the will is the foundation of their estate plan. According to the American Bar Association, the laws of distribution and descent determine who...
